A Coalition of Non-Governmental Organisations (NGOs) across the country, has urged President Muhammadu Buhari to sack the governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele.

The CSOs made this known in a statement signed by their leaders including Comrade Olufemi Lawson, Executive Director, Centre for Public Accountability CPA; Princess Modupe Adedayo, Sustainable Development Advocates; Comrade Usman Umar Tahir, Nigeria Acceptability Project, Comrade Luke Ogherugba; Niger Delta Forum for Good Governance; Hajia Binta Yusuf, Women for Good Governance; Prince Charles Etim, Media Right Concern MRC; Adigun Olabowale, Oodua Renaissance Group; Danjuma Jabbi
Northern Patriotic Group NPG and Dr. Mrs Milicent Eloka, Gender Development Initiative.

According to them, doing so will save the nation from further economic meltdown.

They added that the sacking of Emefiele must be done before the removal of the planned fuel subsidy.

The statement read, “Mr President sir, before Subsidy is removed, we must salvage Nigeria’s Finances; a call for the immediate probe, sack and prosecution of the Governor of the Central Bank of Nigeria,.Mr Godwin Emefiele is thus pertinent and must be done now for us to support the subsidy removal regime.

“We are constrained as patriotic Nigerians, to make this an open letter to your Excellency for a number of reasons. One, the current situation in our country, demands a collective action from every patriotic Nigerians, in a manner devoid of partisan, ethnic or religious consideration, but ultimately, on reason and promotion of national interest.

“Secondly, is the fact, that the next few weeks, will signal a new year and another of your administration’s timeline, towards the fulfilment of your campaign promises to Nigerians, particularly those, that are already contained, in the year 2022 Appropriation Bill, for the country, which its ultimate success, largely depend on the economic fortune of the country, as may be dictated by the economic policies of your administration.

“Mr President, we strongly believe, that the time we are now, demands, that everything must be done to guard, protect and defend our democracy, and transform our economy, from its struggling position, reduce inflation and make market price Favour for all to such, that genuinely guarantee a future for the younger generation of Nigeria, whom you have continuously demonstrated, your readiness, to empower and develop.

“Sir, we are conscious of your avowed commitment to leaving a lasting legacy for Nigeria, not minding the situations, that have raised series of challenges, to your administration’s efforts, towards achieving the set goals.

“It is also no longer news, that Nigeria is at the very point of taking a fundamental step, towards ending the subsidy regime, on petroleum products in Nigeria. For over a decade, successive administrations, have struggled to conquer, the mirage, that have surrounded the fuel subsidy regime in the country. This has led, to a major trust issue, between Nigerians and the government, considering the monumental corruption, that has characterised the fuel subsidy regime, particularly under the previous administration.

“Sir, we strongly believe, that the time is now, for the Nigerian government, to take a decisive step, not only by ending the fuel subsidy regime in the country, but by also ensuring your personal commitment, to the revival of our local refineries, a step, which we strongly believe, will fundamentally address the shortage of supply, of petroleum products in the country.

“Mr President, you have a historical role to play, in repositioning Nigeria, not only by ending the corruption ridden subsidy regime, but also rescuing Nigeria, from the economic woes, created by the subsidy culture and lack of local production capacity, despite being an oil producing country.

“It is no longer news, that with the proposed removal of fuel subsidy, your administration is seeking a Palliative measure, which seek, to provide monthly transport support of five thousand naira each, to forty million vulnerable Nigerians, who may be affected by the fuel subsidy removal. This becomes a fundamental point, where our skepticism, just like that of several Nigerians, abound.

“Judging from the past, we have seen a situation, where government institutions, ordinarily expected to ensure a successful implementation of such manner of palliative measure, resort to abuse of office, mismanagement and convert such to corrupt ventures. The past few years, have witnessed, gross mismanagement of several well intended programs and people oriented interventions of your administration, by people, who you have placed in critical positions, towards ensuring their successful implementation.

“Mr President, of fundamental reference, is the gross abuse, mismanagement and incompetence of the management of the Central Bank of Nigeria CBN, under the headship of Mr Godwin Emefiele. We have seen mismanaged fiscal and monetary policies that have increased inflation rate and weakened naira that has affected our foreign exchange earnings.

“It is on record, that despite the massive commitment and investment of your administration, in programs that seek to alleviate poverty and empower Nigerians, ahead of moments, such as the impending removal of fuel subsidy, the CBN have squandered the opportunities provided by such, as the bank, under Mr Emefiele, became an institution run like a private enterprise, mainly for the benefit of friends, cronies and families of Mr Godwin Emefiele.

“Several independent reports, confirm, that today, a mass majority of Nigerians, who should have genuinely benefited from your administration’s programmes such as the Agricultural Credit, NPower Scheme, Youth Entrepreneurship Development Programme, Micro, Small and Medium Enterprises Development Fund (MSMEDF), Anchor borrowers have been shut out, through the manner, in which the CBN is being operated by Mr Godwin Emefiele. This sir, is one of the major trust issue, that the proposed Five thousand naira transport support allowances, is already raising, among Nigerians.

“Sir, Mr Emefiele’s approach to the implementation of these programs, have left many Nigerians with serious concern, raising questions on how his key fiscal and economic policy move, especially in the context that they become beneficial to the economy.

“Despite the attraction of Nigerians to these programs, Mr Emefiele has made it the most impossible task for them, to accomplish. Mr President, it may interest you to know, that Nigeria’s monetary policies as being driven by the Central Bank of Nigeria, under the leadership of Mr. Godwin Emefiele, have contributed significantly to our economic woes and from all indications. Of recent is the IMF warning on the recently introduced e-Naira that ought to bring financial inclusion but based on wrong implementation just like previous introduced policies, it was warned it could cause more financial instability to the country.

“We are worried, that the CBN, is unbending, despite calls by stakeholders and Nigerians, to adjust its dangerous policies, which has badly impacted negatively on our economy making our economy to further nose dive with weakened naira. The result of the incompetence of Mr Emefiele, is that the problems continues to get worse and it is beyond our grasp to understand why he is still being retained, as the Governor of the Central Bank of Nigeria, at this time that a radical solution is needed for the Nigerian.

“Your Excellency, while space may not permit the listing of Mr. Emefiele’s malfeasance as the CBN Governor, we sincerely believe, that the time is ripe, for your administration, to cause an immediate thorough probe, of the activities of the CBN, under Mr Godwin Emefiele, as the Governor of CBN. Ensuring that this is achieved, requires that Mr Emefiele is asked, to immediately step down, as the Governor of Central Bank of Nigeria.

“Removing Mr Emefiele as the CBN Governor, may be the first step, that your administration will have to take, in building trust with Nigerians, who currently lacks confidence, in the ability of government, to judiciously deploy the revenue, that will be saved by the country, when the fuel subsidy regime, is eventually brought to an end.

“The call for this immediate sack becomes important based on visible evidence of wrongly introduced policy, ordinarily meant to alleviate poverty but rather keeps increasing the ratio of the poverty laden people. It’s on record that, none of the said fiscal and economic policies is in tandem with the projection of lifting people out of poverty line as envisaged by President. Emefiele has continued to waste our nations wealth only for the few and privileged groups.

We the undersigned after critical thinking on moving the nation forward and basis to mobilize non state actors to support subsidy removal in petroleum sector hereby calls for immediate removal and prosecution of CBN Governor, Godwin Emefiele.”